, a network equipment technology provider, said its third-quarter earnings fell 84.4%, hurt by one-time expenses.
The company earned $2.6 million, or 5 cents a share, in the quarter, compared with $16.4 million, or 33 cents a share, a year ago. Adjusted for research and developement, amortization and stock based expenses, earnings were 64 cents a share in the most recent quarter. Analysts were expecting earnings of 52 cents a share in the most recent quarter.
Third-quarter revenue rose 47.1% from a year ago period to $142.3 million as against analysts' expectation of $140.4 million.
The company said its revenue from the management systems division rose 34.3% to $114.8 million. Its revenue from the embedded software and solutions division grew 51% to $9.4 million, while from LANDesk, it totaled $13.5 million.
Shares rose $1.98 to $33.60.
This story was created through a joint venture between TheStreet.com and IRIS.